They'll just pass the increase on down to us and we the working class/consumers will pay the difference.
This will not stimulate the economy in fact it will cripple it even more than it already is because the less money we have the less money the rich have and if the rich cannot force us to pay their overhead then they will go out of business and the people they employ will be out of jobs.
Or the rich will just take their businesses and company's overseas where they can operate for a mere fraction of what they pay here for overhead including taxes.
So start saying "Bye,bye" to big businesses across America because as soon as Uncle Sam attempts to dig deeper into their pockets they'll run for the hills never to be seen or heard from again.
And in the meantime we will become a Socialist Country and live our lives relying on the Gov. for our every need which if history has anything for us to learn from then we know that the Gov. doesn't take care of anyone it only takes care of itself.
Just look at China and North Korea and see how well they take care of their people and this should give you a pretty good idea of what's in store for us.Obama says he will cut the federal deficit in half his first term by raising taxes on the wealthy and business?
I feel like he should not bring us out of debt by spending more money, but should be putting more effort into creating more jobs.Obama says he will cut the federal deficit in half his first term by raising taxes on the wealthy and business?This is what you get when you elect someone with absolutely zero experience in the executive branch of government, much less any experience operating anything. Maybe if he had run a lemonade stand when he was a kid, but he doesn't even have that much of a background.
this guy will go down as the worst president in history.and he had some pretty stiff competition until this.Obama says he will cut the federal deficit in half his first term by raising taxes on the wealthy and business?It just dosent add up. He spends 800 billion %26amp; cuts 95% of peoples taxes but hes going to get enough out of the other 5% to get rid of half the deficit? BS.Obama says he will cut the federal deficit in half his first term by raising taxes on the wealthy and business?
FIRST TERM? This guy will only have one term!
the only thing tax increases do is hurt the economy. The "rich" are also employers and are the ones that spend money. Barry should read some history and talk to economists! THIS GUY IS CLUELESS!
This spending bill is dangerous and won't help this country!
what I find strange is the term (first term) as it is a preconceived notion that there will be a second boy ,hows that for humility?Obama says he will cut the federal deficit in half his first term by raising taxes on the wealthy and business?
I wouldn't worry too much about this. He's lying. He cannot tax businesses more in a recession. The main reason is increasing the tax on them will not bring more revenue when their profits are down. It will also lead to more lay offs. I'd be worried about this guy if I thought he'd follow through with anything he says.
Over taxing businesses is what drove many of them out of this country. How he plans to have any sort of economy without business is beyond me. If this happens then I would not doubt that some of the states that are considering declaring sovereignty would do it.
He may as well run the rest of them to Red China
Adding to your keen observations, as we've seen from his cabinet picks, they tend to avoid paying their taxes as well. Is it any surprise that this unqualified, untested Bozo is learning his job OJT? The problem is Americans will pay for his boatload of mistakes. Maybe next election Americans will examine their candidate a little more closely and not simply believe his fancy-schmancy speeches that are as transparent as his resume.
Only a moron would think a bankrupt country is capable of bailing out bankrupt corporations. Fiscal idiocy at its finest!
Obama is both dead serious and dead wrong.
The only way I see him doing this is if he can plug up the loop holes that the rich use to pay little or no tax.
and his definition of wealthy has been changing 250,000. 200,000. 175,000. if the definition hasn't gotten down to 40,000. it will soon...
always nosnod
B. HUSSEIN OBAMA SAY THAT HE IS GOING TO RAISE TAXES ONLY ON THE RICH IS A JOKE. WHEN THE BUSH TAX CUTS ARE ALLOWED TO EXPIRE IN 2010 IT WILL RAISE TAXES ON ALL SINCE EVERYBODY GOT TAX CUTS. OF COURSE THE WEALTHY GOT MORE IN CUTS SINCE THEY MAKE MORE THUS HAVING A LARGER RATE REDUCED. IT'S BASIC MATH EXCEPT TO THOSE THAT ADVOCATE CLASS WARFARE.
Talk is usually cheap, but his kind of talk will cost us all a fortune in future taxes. Obama knows he will not be held accountable for anything he says, so he says anything he wants.
LOL. So those of us that depend on the Rich to provide us jobs will be SOL... He must have his head up his A S S.... I never got a job from a poor person.
He is a liar. Even if the wealthy gave up all of their income in taxes, we would still have a huge amount of debt. He is just saying things that sound good to get approval. He actually intends to take as much as he can from us, not from them. But, don't forget, he is a socialist, so he will talk about taking from the rich and giving to the poor. Notice how well that has worked in other socialist/communist countries, such as Russia and China?
Raising taxes cuts government revenues and the wealthy are the ones who make jobs so i dont see how this can happen with the Obama plan
And he should. They rich have never paid their fair share of taxes. Its about time.
As one of those "wealthy libs" you're talking about, I have no problem helping to pay down the deficit.
This is my country and I love it.
next...
You don't know the first thing about spreading the wealth around. Why would you be surprised? I said many times that is what he wanted to do (ex. Joe "The Plumber"). He had to do this to create change and hope, or else nothing's going to happen. We can't continue down the path of a failed administration.
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